Obama's Plan to Cut Deficit, New Ketchup Packet

9/19/2011 2:14PM

President Obama is calling for higher taxes on the wealthy as part of a $3.6 trillion plan to cut the deficit, Heinz redesigns the 40-year old ketchup packet for less mess, why you're shrinking and what you can do about it and stocks tumble.

This transcript has been automatically generated and may not be 100% accurate.

... go ... is Monday September nineteen two thousand eleven we are on the team by ... Wall Street Journal News room in New York today on WS J Lunch Break present Obama moments ago urging Congress to do the right age ... and packs pass his new boss attacks for millionaires and deficit reduction plan he had Jerry side to break it down and tell you what it means for you plus if you get your shrinking and you get all ... your right why from a health standpoint it is worse from our men and women and what you can do about it ... and plus a packaging design that made ... overhaul your life at least when it comes to eating French fries and a car I'm Wendy downs and welcome to dot Heest lunch break we wanna go right now to Jerry Sithe ... in Washington DC where prison Obama unveiled a ambitious deficit reduction plan this morning ... during break it down for us what does it mean for individuals out there and for families ... and what are the chances of this happen ... well for starters it for the country what it means the present is saying let's do four trillion dollars plus in deficit reduction over the next ten years that includes the spending cuts he agreed to ... last summer ... I he's proposing three trillion dollars more specifically saying this new super committee that's been set up in Congress ... it's the look of deficit reduction ... over the next ten years are to be ... making that kind of a mark on the deficit ... out what he's saying that matters to people specifically is that he ... didn't is no surprise when the he's saying let's roll back the Bush tax cuts at the end of ... two thousand thirteen for families ... making over two hundred fifty thousand dollars year and individuals ... making over two hundred thousand dollars year ... battle owing to ... reduce the revenue made it brings the government rather a hundred billion dollars in revenue over the next ten years ... and that's really the centerpiece of what he's proposing in addition to that he's he's also suggesting when it became the most known over the weekend as the buff attacks the ... attacks of this family very well defined yet on millionaires literally people who make over million dollars in your ... eyes to ensure that they don't get the kind of production that comes when ally your incomes capital gains as opposed to earn income ... and then he's proposing a lot of corporate tax loophole closings ... ins to tax credits things that don't change rates but that changed tax revenues and carrying ... itemized deductions he has proposed Simpson limitations on itemized deductions for again for those families making a return of fifty thousand dollars ... individuals making two hundred thousand dollars ... in the sense of what deductions he's targeting there ... was to the now orders Terry erase rehear the rates for those people what what the great question knowing he suggested this and what was discussed today ... would come down and down the line of duty is to say ... in the long run what we really need to do he says and decide to bipartisan consensus on this is we need to do a tax free formula way you're ever going to get ... the kind a steady revenue stream that we need to get this the deficit problems in Europe ... is by scrapping the tax code and starting over again and that will involve having a look of all kinds of tax reductions tax benefits ... that are all kinds of people and companies that have in the current tax code ... and if when you get to that level ... he suggested in the past ... that maybe there are to be a cap on tax deductions for the same family Smaghi over to her fifty thousand dollars year or individuals making ... over two hundred thousand dollars year ... but that's not very well formed here in us that the media plan of action ... it's just the supercommittee that start to go down this path for tax reform ... a lot of people agree with that a lot of people however also don't think there's just not enough time to do that come forth to the job in a few months time ... and Jerry before we get to the chances of this plan actually passing or portions of the capping one of Medicare Medicaid and Social Security how they fare in this plan a ... good question what's different now versus what the present was proposing a summer when he was proposing a similar big deal to reduce the deficit is he's not suggesting any changes ... to the to bring down the long-term costs of so Security ... he's left that on the roadside now ... didn't get very far ... in the summer with his own party ... didn't help very much bring Republicans along pieces left that behind one Medicare you have that another round of two to three hundred billion dollars in savings ... from squeezing down payments to doctors ... and physicians come or the scene that we've seen in past efforts to reduce the cost of Medicare ... not does not include significantly something he also talked about this summer ... which has raged in raising slowly the eligibility age for Medicare as a way to save big money in the long run thus not on all the sudden the current proposal ... the US to send this off the table till after the election now ... and Jerry and listen to some of his speech this morning we seem to take on a slightly more defiant telling you think of claim were saying things like Speaker John Painter is always Sanex his way or the highway stated in Europe new reform plan will have to raise revenue ... I think this new top cop an attempt to shore up his base and what does it do ... to the plan's chances of passing with some bipartisan support ... I think which are seeing in this on both sides is system or bright throwing out the wines on taxes that's really what's happened I think there was some interest in the summer ... during the great discussion about where the to do a big deficit reduction deal ... of seeing with you to blur the lines on taxes ... have Democrats come up with the deal which they could say there were some tax increases well Republicans could possibly say whether any tax increases here ... and Buzzard up in a way that everybody could agreed to disagree on taxes well ... that seems less was the case now here you have the presence and very startling ... it can be done we can deal with the country's fiscal problem unless we raise taxes somehow one some people somewhere ... and John Binner last week saying tax increases should be off the table for deficit reduction ... so ... the divide is not getting error it's in some way becoming more clear ... that means that you're not going to see this plan passed Congress in anything like the former president just presented what you gotta see this is super committee tried ... to wrestle to the ground something much smaller one point two trillion dollars in deficit reductions ... which may come mostly from almost certainly will come mostly from spending cuts ... may include a little better revenue disguised as taxable of loophole closing it ... out but that will not be the big deal the president talked about that and very very quickly before we got fifteen seconds bebop a tax for millionaires not a Republican to come out against the swinging this weekend ... how is it plain on Main Street so far ... well not not very clear that just happened over the weekend I think the history of this idea and that also is not a brand new idea ... is a place reasonably well ... on Main Street but the Republicans do pretty good job ... of making the argument that when you get millionaires and it's all business people they create jobs ... therefore it's not a warm bath Attacks to Small Business Tax that's I think which are going here ... and it is a big political question how well that that argument play on Wall Street ... our I Jerry side will be looking for your analysis of this in your column tomorrow thanks so much for being with this ... we are now then turned to the ... one and only Paul vignette taught us that the stock market the stock market has been down this weekend again ... this OnStar this morning on fears that Greece may actually default on its debt of thanks for joining us in on the one only to ... see ... this is this any new money is is only one party the night ... someone I'll buy that so far is down a hundred eighty point ... moreover we see it all the smart was down more the Dow's Dan I think about two fifty at the worst today many The around that ... on their back a little bit now but yet it's all Greece ... over the weekend Dolata means a lot of scrambling ... the bottom line is that the whole and in Europe is actually turning a little more acrimonious ... little nastier ... it's obvious that the solutions ... are not going to solve the palms are the prom is basically Greece is too much debt ... Ireland has too much to Portugal to attack the Times dispatch the US we all have too much debt in Germany and France are bucking a certain ... they are now to some extent yes but they they have done so they've gone here to bail them out ... they don't want to hear the prom is they have to go to their to do it ... didn't look very good reason for them not to want to do I mean you should really be real bailing out Greece ... they're they're very legitimate questions within these countries about how what they should go to bail out these countries but that is the issue and over the weekend of release had turned a little nastier the Germans almost ready and Greeks the Greeks are getting very insulted about it ... so now it's it's just it's becoming clearer that the prom is going to be much harder to solve ... a lot of it is politics in the fact that the French the Germans are not prepared to go with a view into Gosowong ... so the markets are responding to and it's really that simple and technically any of the market movement today ... I should be able to Obama Speech in his plan to get in and help ensure the White House would love to look to what's happened in the last hour into the low bar with a leg up when ... I think that's really true I don't think ... the the the the the real sad thing is I don't think anybody really believe that the plan has much chance given the political climate right now the markets are he doesn't believe that ... they saw what happened in August amid over the debt ceiling ... this all happen the president Write has scheduled speech before Congress him ... so the the good kid he's gonna get that plan through has now resumed ... whether it's a good plan or not the political process right now is so poisonous causing the markets really responding to what's up with a star out the week but we'll be watching on the Markets Hub all week this week the road housing housing sector disallow an earlier bid to wipe out in the overall point to the key point thank you I mean yes I write ... well sticking to your from Stockmarket numbers two numbers at the box office we have Michelle Kung here with us from Los Santos it tells why ... the Lion King ... is roaring back Michelle thanks for being here ... so the blinds think this is this a movie but it back in full force in three D is that right ... Kraft's a Disney is re releasing the last time levered next month and ordered to how for ... that they actually remove the sticky and played this past week ... and in terms of how it's doing numbers wise give us a breakdown of that ... it's actually doing really well it was the top movie of the week ended August thirty million dollars which is actually about ten million dollars ... on ... how much of Maybach's in eighteen eighty four was for ... me ... remember I knew no more of a trend now for ... five then the movie studios to Mirow the ... films that have done well or is the Lion King store of an anomaly ... the delay in the special case of a sense that Disney has the resources to try to do a really good three D conversion after setting a fresh data ... studios are high and a scene that a pattern and they are the state they're good they're in a well respected and three as well as for ... the Titanic three D ... C Star Wars again in three D next year ... to date to be something that is coming back around ... and what other films and ... did or did not to help the box office this past weekend ... there are actually Bunches a ... decade now ... Cindy Hinds ... were led by last ... time that that the kid that ... technically releases its a treaty of the other was the highest ranking was trying to ... flirt ... with Brent Ostling write anything with Rhind Ostling these days seems to be doing ... pretty well that's right ... he's you know I'm not ... even like I know it's the right to get picked up ... an inch or so but there is another movie Alka concert beating on the no continued public fascination with an avid virus outbreak on contagion that that was out this weekend I'm not new but as a second week in the set right ... yes this is ... me ... so I mean up as well are and are dropping off ... I mean there's fifty million dollars which is pretty good ... on ... OK and then very quickly ... coming up this kindness next week in which Tennessee Brad Pitt ... and Moneyball The adaptation of the book on by Michael Lewis about baseball's that right ... yes react and that in the male oriented comes and says you had in eighty ad ... based on rent ... it does not accurately which is like an action comedy that adoption would just driller with links to airliners that lots of things it takes dance beat ... right Michelle Kung thanks for bringing us that person looking for to see Moneyball will top the next week for the box office report ... I read ... well if you like French fries but you ... need dealing with those Manthey ketchup packet to the card you know which are kids do with them ... what a major product we design decision-making very happy with me that we come back ... welcome back to Des beest lunch break I'm Wendy downs well it was a big night at the Guineas for Modern Family and Mad Men here to break it down for us and tells about the winners and losers is the Chris Farley thanks for joining us yet the big night for the show that I think the show still going on ... with us along I was asleep before was over ... and you clearly why the show's over this time around that Mark Burnett he used to these guys behind surviving the survivors that ... you'd think it brings the reality show with ads and some that action and suspense ... to the show but that this is a wall then the show seen before Jane Lynch posted ... details shouldn't ripping job very funny to Stetson the vice press ... well the prom is ... the symbol literally the same old song and Dexia SA NV and fifteen seconds up and ... become such cliche but it shows the sun and the Katyn ... a noted that would slow things down is konago in a very went up slightly ... yet I mean ... that the ring road again ... at that because there were some unexpected win write on returning favorites other Tony Davis were of course Mad Men one again ... on for best drama on that that was expected ... um ... not to cast members themselves one seven no inequity upsets come in because the um ... who was Friday that life is finishing up its run but just recently ... Kyle Chandler ... upset John Hammons of other really big stars ... to win on the best actor drama ... and elderly well deserved Fidelity will show that good right from the small show ... trip the trouble of show but people that watched it is those BBC him to get the idea was wearing a surprise right an even rate now does it seem like I don't get definitely one of four or five nominees after the PQ least have a speech prepared scribbled on Savannah on and noticed that I don't think that the Pope is something you don't get to get up as a say in the Cellcom on say all I just wasn't expected I don't even have anything written you can say ... that the UN actor ... Bravia Minitel and that your job to do when we were connected to the pinnacle some time now and then back to when you know ... something ... so some other winners I wanna buy favor says that could wipe the Chilean market least she won for best actor awful is that rare ... but she did and on the show was coming back on it and that we get less last season when ... the season the critic really great fit ... and didn't seem to get that win again a well deserved win ... most critics of what ... was ... water damage because they did phenomenally well as like what you say about that show is resonating with with America one of the one thing ... really has that his ensemble shoals the slot to choose from no one character saw that Turkey might like ... too it was a big document refills but the opposition in every sense since it captured the rhythms of modern comedy the public respond to that of the show it seems it's feel real to them ... but the just flat-out funny people seem to their own lies in the show so I think that's why is it that members the show are winning awards ... on the given ratings an issue you need to do well and speaking of the prophets I mean it is that I would bet Steve Carell was not made again and again loss he hasn't won yet is that an MP he is now ... um but there is consolation prizes of the movie started so I know that that that don't cry for some type of interbank got the better yesterday to where his career is going on now of course is the most obvious to see was can be the next Optus boss didn't get ... built this lot James Beattie will be on the show and the date of the specific slot will see that down the road and quickly there was a new category for not HBI yet it was Mildred Pierce and too big to fail what what what was the new Canaccord Levin's Mildred Pierce was interesting to note appears at this time of ... high quality deftness going get ... bid up Downton Abbey ... on during the during the show done at the actually won a couple key categories best mini series ... but Kate Winslet ended up walking with ... that's expected ... with a win for best actress in a nice to drum up again a well deserved award on the market's love that show ... was good to see her with ... our offense was out there we have more on this on the Speakeasy bought the sprawling always frantic reacting NDAQ XM actress ... I will anyone who is trying to squeeze out ... a good catch up pack in ... the regular rectangle and I think we have some here let's see what we've got ... all these are French fries for any business segment in red lip with his right here ... he's renting on you know what a pain isn't how messy it is we've got a redesign of this Sarah Nassauer is here on the hand this year ... to tells all about it you write about it who would've thought that it would take three years to come out with the redesign of the ketchup packet ... but it did what was wrong with the first ones ... Many and apparently ... it's hard to open its messy because they don't really know what Opening is going to come ... and a lot people so that wasn't enough to ten thousand to three main complaint resumes her twenty of them to get for your prize that's the problem ... and so high and this is made by Jain's so Heinz's said about ... redesigning the ketchup packet tells what they came up with and hold up the can on ten and three years they're working on other ideas before this that this is the Honda wanted to than three years ... and it is you can kill up the top and debt ... your French fries or you can ... tear up one and in squeeze on sheer burger ... and has three times as much ketchup is one of the old packets are shaped like a subplot with that sort of sin psychologically was ineffective we don't need twenty of these anymore exactly that was very very intense in all that this is a serving that's a bottle of cuts that this is all you need ... an interesting what ... Heinz da to come up with this package and when you write about this is the intricate detail ... talk about the whole minivan spectacle the pre dawn of a lot of new bands involved in the KOMISAR is right ... because of that one of the big things that Jain's believes is that people don't even ... order fries at drive throughs because the catch up to such a pain in ... and that's if you spend a bit biased as to show margin on and on down REI there's a high to their high profit margin on for the restaurants of ... to sell their ten to more actively professing since ... they did a lot of tech Baywatch consumers and some fake minivan interiors ... using ketchup with making chicken nuggets fries burgers ... the guy who is enough random water and the operation he bought a used minivan that his team could ... take to Wendy's in a McDonald's near the office and play with CreditSights as they were developing them saw this the and are probably ... that's exactly what he said was to massive any ... agent who is giving a sense of what what what it costs to do this or that maybe there's still a well set aside the Falen said it was significant and this thing of the summons signature him out of time say it was and she said to do all that work for sure ... the product overhaul designed said you write about retail in such an intricate that again for us ... how important is something like this to accompany me indices Augustus malting has an obvious well ... what more can chip in it you know they get less messy YTD take three years in the Brazilian minivans to do it ... but to what it takes a long and why system crucial in part it's it's a long because these are so she had been around since nineteen sixty eight ... peanuts fractions of a penny to make and so and and restaurants in with a free ... supper time taken to make and sell it had set to rest on a path to incredible sheets ahead ... with its steeply ... I have to figure out some design and have the graphics technology Lendl of the plastics technology are competing for the star in the future that will help them meet health and and that ... costs twice though these must caucus it costs more to produce ... how Zangana played our house is in play now summit as markets ... that they didn't think it is in the hope is that people use less catch up in the hands ... and some other restaurants are using them Smashburger and Dairy Queen Atchafalaya ... they had buried results on its people use the less or more AAA there was also people using more captain they said they saw little bit of supporting going on right and I think that that will level out after the novelty wears off because again that the restaurant themselves are paying for the ketchup and giving away may have to pay for more and more of these ... then again awaiting we may see our French fries and burgers that it was up to the little that is deftly potential for that if this is a more expensive item twenty s it is just to announce that they're going to ... carry and Wendy's us of having to carry shale ... and then that could change ... the dynamics of how content is given out for her I'm sitting in front of this fraud before we go outside at the right way to the right way I'm trying to become a nibble of these is a good break but teargas on thanks for this ... then we'll offerings by secondly sit next to each other so well over ... half of last year ... right ... well I need to be straight for this next segment because most of us are getting shorter as we get older ... white sports for men and what you can do about it is mulling the Monday here on Lunch Break we have been ... Melinda ... our health columnist and she is here to join us when we come back ... auf ... well it is no secret that you shrink and you get older but is it more dangerous ... for men and what can you do to stave off the street kids when Melinda Beck your help calm as he writes about effort to Mars Pursell Journal ... thanks for joining us ... so we all have that sense of urgency a little bit shorter as we get older but we're not in the Zenit ... now it's it's a good rule of thumb is that people tend to lose maybe a quarter to a half an inch per decade after age forty ... well ... and that that's pretty normal ... is it different from men versus women in terms of how much we we shrink ... well when ... most women will shrink by up to three inches by the time their age eighty ... and that's because women's bones just ... I'm not not a stunt to begin with and they also whose STJ and very rapidly as we all know ... which contributes to ask you for a suspect is the real danger here ... when men lose ... that much ... tighter more which could be in the state ... in a very rapid time my two inches over two years ... that's a red flag for a lot of different health problems ... us he presses for men pressure ... also things like ... heart disease and and all cause mortality ... you would think about heart disease inhalation shrinking but they all theirs for connect that with us and ... a lot of these chronic diseases of the elderly really do go hand in hand so he losing height he's had a ... and he seemed marker to keep track of ... a little bit it's the it's not terribly talent that you see this in him and he really is a warning sign that he should ... investigators helpers ... the MindTree are right ... at the doctor's office and not just sort of on ... the no on that that the water we did that it's a big crop and we need to get sites measurements on this ... yes it seems like such a simple thing to do but ... even at the doctor's office and may vary dramatically from DocuSign juice on some ... shoes on ... the actually lose about fifteen ... milligram at ... millimetres of high during the day so he won a ... the really tall given early got ... pregnant so as we speak you and I are shrinking right advertising your eye when I can ... they were settling into that perhaps ... I'd away all I know is what can we do about it ... a lot of this is determined by a Readies and enter how good you are ... the new maid and dealt a hand ... alas the genetic and with your bones that ... you can ... playback and the best you possibly can if you can get a lot of exercise breaking their reviewers study in Israel about ten years ago that showed that ... Capito that regular exercise on airlines and even after age forty only last about half as much as high as people who ... didn't exercise or stop an imminent me to start to things like like when the ADP don't wait very exercises I was going to sleep in your bones and so for money and wanting his complete their year bearing your God with leaks winning is not ... this one so what is the son of the hounding on down and it doesn't need to be on ... really impact and effect there in your weight ... halts ... on strength and and stimulate about the bone growing ... not components of his own ... what the vitamins I know people talk alot about the effect of vitamin D can help absolutely by Minty and Kelsey and I'm really crucial ... on ... the band's new recommendations on how much people need ... time expects to really talk this over with your own doctor ... I'm you can evaluate your own genetics your family history that ... come with risks and benefits for for taking these things or or somebody asking for Mrs Johnson that ... I did advice as always from a lender that will reduce towards Mars Pursell Journal thanks for being with us ... our says the marriage is happier than first was ... some surprise the new data suggests that the second time ... might just be the charm we have are bonds calmness life here in studio Elizabeth Bernstein ... this theme here in RYN Miami am so happy to see the yesterday see when you ... when I was fascinated by this when I read the preview of your column which appeared in smart Pursell journal because ... we think this second marriage is ... what BBA's had a few volleys pressures of the divorce and Andsit ... and that tells about Menshel wisdom says that second marriages ... fail and greater rate than first if the divorce one-time can be divorced again ... but when it's wet because some people brightening and they say ... happens when I'm on ... a wonderful marriage thirty years ... ten years before it was awful ... someone just what what happens when you put when ... people are hitting another ballpark in their second wooden It's and USEC isn't census data that showed the longevity of the second marriages ... Esperdy that if treated in exactly the famous person or just other China the median ... home ... a ... number of years from both first and second marriages sustain a busy year isn't exactly this and there's nothing that says that ... its last and what's interesting is second marriages have ... all the pressure FirstMerit and more because that the often askance ... there's money issues because either your distance if you like a lot of financial obligations would be raising children ... um retirement but also you may want to tap out at ... the big issue to my so and in your back these issues have whatever he doing there at that that the housekeeper to ... get more back it adds more Geduld aren't so many ways ... so why the second marriages are not doing so well ... was it was beginning to me just clarify what it is we want in a partner at that point ... it's a big part ... is if you're earning you're in an unhappy marriage of anyway I people learn what ... is important for what didn't work but that was missing he really learned what was missing that need to have a lot of people ... in the second at the five top to say you know my firsthand isn't something was missing ... the one that you all some when we did rock I anybody I've been married anybody who's been married ... hopefully ... learn if you get divorced what you did wrong that the key that you how to learn that they have a good second page you get to that if you think that when checking it exactly is related to the baggage of Astellas and what about also just the fact the teenager second marriage ... you're just older I mean when you're younger and you you get into a long-term relationship marriage ... you may just not had any idea how to handle commitment to just get better was that that commitment ... and loving someone as we get older ... I think you've learned what it and I think you realize that people some people get married in the twenties early twenties ... how you know what mechanism sentiment the with this person forever the may find out ... over years later I can do is you learned ... again about what can it take to take a lot right but also the year to find the right person is key to to to the Nikkei and commit to it so ... and how to protect Destra quickly how you protect that secondary worsen things you should know ... going into the second year so with last as long as they can what's interesting to me that that the Fed that they would say that but they fed ... on making a mess of it is really gay couples therapy ... it's like a look if I get caught you get somebody who was not that that the effect buying a car in welding up and down you won't feel open and when times get tough ... to figure out ... and probably someone also to share some of your common interest in the top of going in different directions at that point exactly and I think a bit when it comes to the second time around people really realize ... can see Scott three components in its physical and emotional that into much less a limited hit it off and physical emotional intellectual we should all keep remembering that get all ... right thanks Elizabeth Bernstein my good friend and confidant in real life and a wonderfully Muddy Hoppenot the giving money to bonds column ... when will the Fed ex marking the person to appreciate you being with this ... that it today for WS J Lunch Break stay tuned I hope for digits at one pm the New Saab with Simon Constable at four of the bag Tiernan tomorrow ... have a great day ... Bernard ...